You can actually get an even better deal on the front end by getting things like closing costs and commissions covered by the seller and sometimes even under listing price. 

I think you need to focus on your career.

I have been an agent at Keller Williams for the last 3 years and have done a bit of wholesaling on the side. 

How many times have we heard, but I just put on a $20,000 roof. 

That means your entire principal keeps on growing.

I have a long time friend in NJ who needs a HELOC on their home.

Yep, we have a few on our sites.

One said the 2nd mortgage has to be assumable and the other said it did not.VA issued Circular #26­24­17 back in August to try and clear up the issue:Assumability: If the secondary borrowing is not assumable, the holder of the VA guaranteed loan should counsel the assumer that this may restrict their ability to sell the property to another creditworthy assumer through an assumption in the future.The lender currently servicing the loan still can decide whether or not they'll allow the 2nd.You could do seller financing for the gap and then refinance just that amount with a Home Equity Loan or Line of Credit at some point down the road. 

This seems risky, since I have to pay for repairs on a property that’s not even mine yet.

Congrats on your success in Whatcom County @Frank Oliver!